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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #139,481
  • Aug 11, 2016 9:48am Aug 11, 2016 9:48am
My first trade of this month AUD/CHF double top, divergence, pinbar, huge resistance at 0.755. I played a retrace to that area and FTA was 0.75 so i am at BE now

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  • #139,482
  • Aug 11, 2016 2:19pm Aug 11, 2016 2:19pm
Quoting mbqb11
How to better understand support and resistance video uploaded to youtube from this weeks webinar https://youtu.be/x-ONMOyYEeA I'd like to post this chart with it too {image} Enjoy Mike
great stuff. i like it. trading made simple :-)
meine augen sind die sterne
  • #139,483
  • Aug 11, 2016 4:10pm Aug 11, 2016 4:10pm
Watching USD/CAD for a a short around 1.30, a nice big pinbar around 1.3030 closing below 1.30 would be nice (yeah..i know.. im asking too much)

Possible scenarios based on the 4hr chart
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  • #139,484
  • Aug 12, 2016 6:32am Aug 12, 2016 6:32am
NZD/CAD bounced off the same level again. 0.9550 zone. with a HUGE BeOB on Daily TF.
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #139,485
  • Aug 12, 2016 11:09am Aug 12, 2016 11:09am
Quoting dustbin
NZD/CAD bounced off the same level again. 0.9550 zone. with a HUGE BeOB on Daily TF.
i like AUD/CAD big BOEB at BRN 1.00 divergence, also i reduce my risk from the high of the bar to a few pips above the BRN 1.00

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  • #139,486
  • Aug 14, 2016 10:12am Aug 14, 2016 10:12am
Quoting florinellz
{quote} i like AUD/CAD big BOEB at BRN 1.00 divergence, also i reduce my risk from the high of the bar to a few pips above the BRN 1.00 {image}
Hey Florinellz,

Nice trade !! I´ve been waiting all week for this setup to emerge.

My main concern was that it couldnt close below the 1.00 mark
Couldnt close below previous ppz area marked on the chart attached.

Fxchap.
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  • #139,487
  • Aug 14, 2016 3:26pm Aug 14, 2016 3:26pm
Mike what you think about that pinbar ?
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  • #139,488
  • Edited 10:14am Aug 15, 2016 3:45am | Edited 10:14am
Exhaustion bar (gravestone doji) retest of level, engulfing bar and consolidation/ retrace underway. Any comments appreciated.
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  • #139,489
  • Aug 15, 2016 4:11am Aug 15, 2016 4:11am
@Fxchap i also look at that PPZ. I put a sell stop a few pips lower than that PPZ and i use that area and VBRN 1 to control my risk( this is what Mike call dinamic risk-reward; my initial risk was 2% and now i have only 0,6% risk and i still mentain my take profit)

@Maklla in my feed (Fxpro) i don't have a pinbar(the low of the bar is lower than the previous bar) still in your chart seems to have a BEOB not a pinbar, also IMO the BEOB reached the FTA(0.9318 in your feed) so if i were in a trade from that BEOB(from the low of that bar or at the close of that BEOB) i try to reduce my risk (maybe move my SL at 0.942 area)
  • #139,490
  • Aug 15, 2016 4:15pm Aug 15, 2016 4:15pm
Quoting florinellz
@Fxchap i also look at that PPZ. I put a sell stop a few pips lower than that PPZ and i use that area and VBRN 1 to control my risk( this is what Mike call dinamic risk-reward; my initial risk was 2% and now i have only 0,6% risk and i still mentain my take profit) @Maklla in my feed (Fxpro) i don't have a pinbar(the low of the bar is lower than the previous bar) still in your chart seems to have a BEOB not a pinbar, also IMO the BEOB reached the FTA(0.9318 in your feed) so if i were in a trade from that BEOB(from the low of that bar or at the close...
Thanks for your view
  • #139,491
  • Aug 16, 2016 7:05am Aug 16, 2016 7:05am
Hey Zaak,

Price went where it had to go.. if you see you had a previous ppz with a double top at that area, where you should :
1. take half or full position
2. Move stop to breakeven.

Take care


Quoting Zaak
Exhaustion bar (gravestone doji) retest of level, engulfing bar and consolidation/ retrace underway. Any comments appreciated. {image}
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  • #139,492
  • Aug 16, 2016 7:09am Aug 16, 2016 7:09am
Hi Florinellz,

Great trade, based on my experience ive been nicked into many trades with a "fake break" of the round number and turns around, thats why i prefer for Price to show me it has strong sellers behind it.

Something like this has happened (see image attached)

Keep on with the good work and posts !

Quoting florinellz
@Fxchap i also look at that PPZ. I put a sell stop a few pips lower than that PPZ and i use that area and VBRN 1 to control my risk( this is what Mike call dinamic risk-reward; my initial risk was 2% and now i have only 0,6% risk and i still mentain my take profit) @Maklla in my feed (Fxpro) i don't have a pinbar(the low of the bar is lower than the previous bar) still in your chart seems to have a BEOB not a pinbar, also IMO the BEOB reached the FTA(0.9318 in your feed) so if i were in a trade from that BEOB(from the low of that bar or at the close...
Attached Image
  • #139,493
  • Aug 16, 2016 7:32am Aug 16, 2016 7:32am
Quoting Fxchap
Hey Zaak, Price went where it had to go.. if you see you had a previous ppz with a double top at that area, where you should : 1. take half or full position 2. Move stop to breakeven. Take care {quote} {image}
also, pls always keep the fundamentals at the back of your mind when you trade. AUD didnt go down even when there was a price cut. so the big boys want it to go up ! euro strength, usd weakness. all these need to be taken into consideration.
  • #139,494
  • Aug 16, 2016 9:50am Aug 16, 2016 9:50am
Quoting 1colinfirst
{quote} also, pls always keep the fundamentals at the back of your mind when you trade. AUD didnt go down even when there was a price cut. so the big boys want it to go up ! euro strength, usd weakness. all these need to be taken into consideration.
@Fxchap thank you for your reply. I noticed the PPZ and my in "enthusiasm" (and cost) underestimated it's significance.

@1colinfirst thank you for your reply, insight and advice.
  • #139,495
  • Aug 16, 2016 1:19pm Aug 16, 2016 1:19pm
Quoting Zaak
{quote} @Fxchap thank you for your reply. I noticed the PPZ and my in "enthusiasm" (and cost) underestimated it's significance. @1colinfirst thank you for your reply, insight and advice.
Ive been thousand of times in that situation hehe

Take care.
Fxchap
  • #139,496
  • Aug 16, 2016 9:28pm Aug 16, 2016 9:28pm
GBP/AUD daily BUOB, macd divergence. anyone buy it?
  • #139,497
  • Aug 17, 2016 2:24am Aug 17, 2016 2:24am
@forexlife I wish I would have seen your post sooner, I like set ups like these.

I've set a buy limit, we'll see how it goes.
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Confluence is king.
  • #139,498
  • Edited 5:46am Aug 17, 2016 4:40am | Edited 5:46am
Quoting forexlife
GBP/AUD daily BUOB, macd divergence. anyone buy it?
I was looking at it but the previous swing low around 1.7035 and the 1.70 big around number made me pass on it.

Instead I took USD/JPY 2 bar pinbar on the 4hr breaking the 100 mark, entry 100.18 exit 100.90 stop at 99.95
USD/JPY 4HR chart attached


Take care,
Fxchap
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  • #139,499
  • Aug 17, 2016 10:31am Aug 17, 2016 10:31am
From al GBP pairs that show bullish sign(BUOB or pinbar) i like GBP/SEK double bootm, divergence, BUOB PPZ from the past which is also a great area to manage my trade
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  • #139,500
  • Aug 17, 2016 2:19pm Aug 17, 2016 2:19pm
a chart that i'm interested now EUR/TRY; the price is showing divergence so i will look for a BOUB at blue area that i have on my chart

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